Kenvue Inc. $KVUE Stake Lifted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its Kenvue stake by 10% in the first quarter, buying 511,809 shares and bringing its total holding to 5.62 million shares worth about $96.6 million.
• Kenvue’s latest earnings beat expectations, with quarterly EPS of $0.32 versus the $0.27 consensus and revenue of $3.91 billion topping estimates; revenue also rose 4.5% year over year.
• Analysts remain cautious overall: Kenvue has a Hold consensus rating, even though UBS raised its price target to $20 and the stock was recently trading around $18.94.

Hsbc Holdings PLC increased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,618,177 shares of the company's stock after purchasing an additional 511,809 shares during the period. Hsbc Holdings PLC owned 0.29% of Kenvue worth $96,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its holdings in shares of Kenvue by 0.8% in the first quarter. Kestra Advisory Services LLC now owns 175,192 shares of the company's stock valued at $3,020,000 after buying an additional 1,385 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in Kenvue by 1.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 320,471 shares of the company's stock valued at $5,525,000 after buying an additional 3,222 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in Kenvue by 100.4% during the first quarter. Greenwood Capital Associates LLC now owns 112,417 shares of the company's stock worth $1,938,000 after acquiring an additional 56,326 shares during the period. Frank Rimerman Advisors LLC grew its holdings in Kenvue by 86.8% during the first quarter. Frank Rimerman Advisors LLC now owns 44,736 shares of the company's stock worth $771,000 after acquiring an additional 20,786 shares during the period. Finally, Montag A & Associates Inc. raised its position in Kenvue by 6.3% in the first quarter. Montag A & Associates Inc. now owns 10,156 shares of the company's stock worth $175,000 after acquiring an additional 600 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on KVUE. Wall Street Zen raised shares of Kenvue to a "buy" rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. UBS Group boosted their target price on shares of Kenvue from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Barclays reduced their target price on shares of Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $19.50.

Insider Transactions at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.59% of the company's stock.

Kenvue Trading Down 0.2%

NYSE KVUE opened at $18.94 on Monday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $22.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98. The stock has a market cap of $36.37 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.44 and a beta of 0.47. The firm's 50 day moving average price is $18.20 and its two-hundred day moving average price is $17.86.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue's payout ratio is presently 97.65%.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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